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South Africa was left in shock after hearing how the disgraced former chief executive of Steinhoff Markus Jooste had escaped the clutches of justice by committing suicide on the beach in Hermanus.

The 63-year-old reportedly shot himself at Kwaaiwater beachin Hermanus on March 21, shortly after the Financial Sector Conduct Authority revealed that it was fining him a whopping R475 million and that it planned to pursue a criminal case.

Police arrived at the home in Hermanus, about 120 kilometres from Cape Town, with Malcolm Pojie, a SAPS provincial spokesman, confirming that the deceased succumbed to a fatal gunshot wound after arriving at a hospital.

“No foul play is suspected at this time,” Pojie added. However, some are wondering if, in the transition from beach to hospital, Jooste actually found his way to a private island.

The complexity of Jooste’s legacy, marked by both his business acumen and the controversy surrounding Steinhoff’s collapse, has shaped the country’s diverse reactions to his passing:

Markus Jooste reading the headlines from an exotic island pic.twitter.com/Frtjik7iMz

— Khwezi 👨🏾‍💻 (@Khwezi_bass) March 21, 2024

Gavin Watson walked so Markus Jooste can run. We’re taken for a ride as a nation. The Stellenbosch crew does as it pleases & off to Islands without being held accountable.

— Patience (@patience_setati) March 21, 2024

Gavin Watson and Markus Jooste bumping into each other on a private island with no extradition pic.twitter.com/v4P04LAzVO

— Erwin Smith (@MrImJustSayin) March 21, 2024

Jooste’s unexpected demise as a result of white-collar crimes is nothing new in South Africa when you recall the same storyline from other fellow controversial businessmen, like Brett Kebble and Gavin Watson. At the time of all these high-profile businessmen’s deaths, they were also “wanted men” thanks to multi-million rand fraud schemes, noted The South African.

The corruption-accused Bosasa CEO Gavin Watson supposedly died in a strange and horrific crash near OR Tambo International Airport in Johannesburg. Watson was being investigated for the bribery of senior former government ministers and ex-officials from the correctional services department. He died a day before he was to testify before a tax evasion and money laundering state capture inquiry, noted TimesLIVE at the time, with one of the inquiries including his alleged smuggling of an estimated R500 million from the country. Read more about his possible escape-suicide-murder ploy here.

According to IOL, Kebble had planned his “assisted suicide” by reportedly hiring hitmen to orchestrate the fatal shooting, which was mistaken for a botched hijacking. Like Jooste and Watson, Kebble was facing charges by the NPA for fraud, share price manipulation, fraud, and tax evasion.

The suicide of Markus Jooste.
The heart attack of Gavin Watson.
The assassination of Brett Kebble.

South African white collar criminals, once named and shamed along with their politician friends, never quite make it into jail.

— Suntosh Pillay (@suntoshpillay) March 21, 2024

Back to Jooste. Steinhoff was put under investigation in 2017 on suspicion of fraud, with a reported six-billion euro ($6.6-billion) hole in its accounts. Jooste was accused of using fake transactions to artificially inflate Steinhoff International Holdings’ profits.

“The investigation found that Mr Jooste… published false, misleading, or deceptive statements about Steinhoff International Holdings”, which he knew to be “deceptive”, the FCSA said in a statement Wednesday.

Jooste resigned but denied any knowledge of accounting fraud. The fallout from Jooste’s resignation was swift and devastating, erasing billions of euros in market value and thrusting Steinhoff into a financial abyss.

The FCSA issued an April 19 deadline for the payment and, according to the National Prosecuting Authority, a warrant of arrest had been issued for Jooste.

But before that day came, Jooste took his final steps down the famous Hermanus Cliff Path Walk, all the way to the end of the trail. On Human Rights Day, nogal. Apparently, Jooste used a silencer to reduce the sound of his gunshot.

Hermanus residents, Western Cape, have shared details of what they witnessed following the suicide of former Steinhoff International CEO Markus Jooste’s suicide. Jooste passed away, allegedly after shooting himself. @Nasiphi_Same reports.https://t.co/jqdNwVQTFV#Newzroom405 pic.twitter.com/gkgwUsuipN

— Newzroom Afrika (@Newzroom405) March 22, 2024

As documented through the years, Jooste owned multiple assets, including flashy cars and million-dollar mansions, like the Lanzerac wine estate in Stellenbosch and the Klawervlei stud farm in Langebaan.

His Hermanus home, which served as his most recent hideaway, where he lived with his wife and three children, is said to be valued at R80 million.

Outside the home of Steinhoff mastermind, Markus Jooste. So far, we have only seen his son, Michael inside the yard. pic.twitter.com/1UPgD575Y9

— Veve (@LudidiVelani) March 22, 2024

Since news of Jooste’s alleged suicide, social media users have demanded “evidence” of his death and want to see his funeral service televised for the sake of transparency.

Ja, pictures of blood on the beach are not enough. Where’s the body?

[source:jacarandafm]